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Workshop on Financial Management and Planning for Women

Why is financial planning different for women?
There are several aspects of most women’s lives that affect issues of financial planning. Women often take a career break to have children and for child care. As a result they may have less pensionable earnings. Generally there is a reliance on their partner’s pension and then what happens on separation or divorce? There is also an expectation that women look after aged parents, or rather if anyone in a family is expected to care for aged parents it is much more likely to be the daughter rather than the son and this again puts pressure on careers and earning capacity. And women have a longer life expectancy so their pensionable needs are likely to be higher than those of men.

The workshop held at Fulcra’s offices at Montgomery, talked through these issues and then showed some simple and straightforward solutions. The most vital point is to raise awareness among women that they should be financially independent and take the time to evaluate their situation and work out their financial objectives for now and the future. There is great benefit in taking action and planning for the future earlier rather than later.

There were about 18 participants in the workshop which generated a good discussion. The session was both informative and enjoyable,  and there was a very pleasant social atmosphere with refreshments.

The workshop was lead by Melanie Barker, Senior Advisor at Fulcra Fulcra International Financial Planning.

Back to PWI Magazine - Spring 2011